If there was a Hollywood Theatre in the 500 block of Liberty Street, it couldn’t have had that name between 1934 and 1948, when there was a Hollywood Theatre in the 400 block of the same street.

Information accompanying this photo from the 1910s says that this house opened in 1912 as the Elmont Theatre, and was later known as the Ideal Theatre before becoming the Hollywood Theatre. It gives the address as 411 N. Liberty Street, and says that it burned in 1948.

Information with this photo showing the tile at the entrance, all that survived after demolition, says the house had become the Ideal in 1927 and the Hollywood in 1934.

Here is a 1940s photo (1946 movie on marquee) showing the Hollywood at right and the Colonial Theatre farther along the block.

I’ve been unable to find any references on the Internet to a theater in the 500 block of N. Liberty Street.

The FDY’s address had to have been wrong, Ken. Not only does the third photo I linked to in my previous comment show the Hollywood Theatre in the same block as the Colonial Theatre (at 427 N. Liberty), but the address 512 N.Liberty would be under the footprint of the large government building (probably the Post Office) which is on the northwest corner of 5th and Liberty, and looks like it was built no later than the 1930s.

The Hollywood Theatre was at 411 N. Liberty, and both it and the nearby Colonial Theatre have been demolished.